Trimble Inc. (NASDAQ:TRMB) Short Interest Up 22.8% in April

Trimble Inc. (NASDAQ:TRMBGet Rating) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,780,000 shares, an increase of 22.8% from the March 31st total of 1,450,000 shares. Based on an average daily trading volume, of 1,460,000 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.7% of the shares of the stock are short sold.

TRMB has been the subject of several recent research reports. Raymond James reduced their price objective on Trimble from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, February 10th. StockNews.com initiated coverage on Trimble in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Morgan Stanley reduced their price objective on Trimble from $76.00 to $70.00 and set an “underweight” rating for the company in a research note on Tuesday, January 25th. Piper Sandler upped their target price on Trimble from $101.00 to $102.00 and gave the company an “overweight” rating in a report on Thursday, February 10th. Finally, JPMorgan Chase & Co. dropped their target price on Trimble from $79.00 to $77.00 and set a “neutral” rating for the company in a report on Monday, March 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Trimble has a consensus rating of “Buy” and an average target price of $85.17.

In other news, VP Ronald Bisio sold 2,660 shares of the company’s stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $65.98, for a total transaction of $175,506.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sandra Macquillan sold 10,500 shares of the stock in a transaction on Monday, February 14th. The shares were sold at an average price of $66.44, for a total value of $697,620.00. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bell Investment Advisors Inc purchased a new position in shares of Trimble during the 3rd quarter worth $25,000. Cornerstone Advisory LLC purchased a new position in Trimble during the 4th quarter valued at about $26,000. GHP Investment Advisors Inc. purchased a new position in Trimble during the 1st quarter valued at about $26,000. DeDora Capital Inc. purchased a new position in Trimble during the 1st quarter valued at about $27,000. Finally, Atwood & Palmer Inc. purchased a new position in Trimble during the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 91.47% of the company’s stock.

NASDAQ:TRMB traded up $0.17 during trading hours on Tuesday, hitting $67.39. The company had a trading volume of 28,062 shares, compared to its average volume of 826,410. The company has a current ratio of 1.22, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average of $69.09 and a 200 day moving average of $76.90. The company has a market cap of $16.87 billion, a P/E ratio of 34.87, a P/E/G ratio of 2.17 and a beta of 1.53. Trimble has a 1 year low of $62.32 and a 1 year high of $96.49.

Trimble (NASDAQ:TRMBGet Rating) last released its quarterly earnings results on Wednesday, February 9th. The scientific and technical instruments company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $926.00 million during the quarter, compared to analysts’ expectations of $889.75 million. Trimble had a return on equity of 15.08% and a net margin of 13.47%. During the same period in the prior year, the business posted $0.53 EPS. On average, analysts forecast that Trimble will post 2.43 earnings per share for the current year.

About Trimble (Get Rating)

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.

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